Lion snaps up Stone & Wood brewer
Bevvy behemoth Lion has added another Aussie craft brewing biz to its collection: Stone & Wood maker Fermentum. The deal will see Lion buy all of the Byron Bay-founded brewer which was founded in 2008 and now claims 1% of Australia’s $4 billion beer market. The price hasn’t been disclosed, but reports say it is one of the largest-ever craft beer acquisitions in the country. Lion is one of Australia’s largest beer companies and an arm of Japanese drinks giant Kirin. It produces big name brands including XXXX and James Squire, as well as craft beers like Little Creatures. Stone & Wood co-founder Jamie Cook said Lion will back their plans for the brewery. He won’t be cracking a celebratory beer just yet – the deal needs approval from the competition regulator, the ACCC.
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